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 Glossary Search for economic efficiency (Search Options)

Definition of Term

economic efficiency
(English) In fisheries, the point at which the added cost of producing a unit of fish is equal to what buyers pay. Producing fewer fish would bring the cost lower than buyers are paying. Producing more fish would raise the cost higher than buyers are paying. Harvesting at the point of economic efficiency produces the maximum economic yield. (See also: fishery, maximum economic yield)

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